Smith & Wesson Brands (SWBI) 10-Q 4 Mar 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jan. 31, 2014	Feb. 28, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Jan-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'SWHC	'
Entity Registrant Name	'SMITH & WESSON HOLDING CORP	'
Entity Central Index Key	'0001092796	'
Current Fiscal Year End Date	'--04-30	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	54,947,895

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents, including restricted cash of $3,345 on April 30, 2013	$45,288	$100,487
Accounts receivable, net of allowance for doubtful accounts of $1,269 on January 31, 2014 and $1,128 on April 30, 2013	52,662	46,088
Inventories	86,807	62,998
Prepaid expenses and other current assets	6,693	4,824
Deferred income taxes	12,076	12,076
Income tax receivable	8,669	3,093
Total current assets	212,195	229,566
Property, plant, and equipment, net	108,740	86,382
Intangibles, net	3,511	3,965
Other assets	21,656	7,076
Assets, Total	346,102	326,989
Current liabilities:	'	'
Accounts payable	45,377	31,220
Accrued expenses	10,829	16,033
Accrued payroll	12,013	13,096
Accrued taxes other than income	5,362	5,349
Accrued profit sharing	7,688	9,587
Accrued product/municipal liability	1,355	1,551
Accrued warranty	5,274	5,757
Current portion of notes payable	319	'
Total current liabilities	88,217	82,593
Deferred income taxes	7,863	7,863
Notes payable, net of current portion	100,000	43,559
Other non-current liabilities	11,099	11,675
Total liabilities	207,179	145,690
Commitments and contingencies (Note 14)	'	'
Stockholders' equity:	'	'
Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding	'	'
Common stock, $.001 par value, 100,000,000 shares authorized, 68,375,833 shares issued and 54,918,526 shares outstanding on January 31, 2014 and 67,596,716 shares issued and 64,297,113 shares outstanding on April 30, 2013	68	68
Additional paid-in capital	208,382	199,120
Retained earnings	72,683	8,434
Accumulated other comprehensive income	73	73
Treasury stock, at cost (13,457,307 common shares on January 31, 2014 and 3,299,603 common shares on April 30, 2013)	-142,283	-26,396
Total stockholders' equity	138,923	181,299
Liabilities and Equity, Total	$346,102	$326,989

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, except Share data, unless otherwise specified
Restricted cash	'	$3,345
Allowance for doubtful accounts receivable	$1,269	$1,128
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	68,375,833	67,596,716
Common stock, shares outstanding	54,918,526	64,297,113
Treasury stock, shares	13,457,307	3,299,603

Consolidated_Statements_of_Inc

Consolidated Statements of Income and Comprehensive Income (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2014		Jan. 31, 2013		Jan. 31, 2014		Jan. 31, 2013
Net sales	$145,881		$136,242		$456,195		$408,797
Cost of sales	87,230		86,310		266,834		259,171
Gross profit	58,651		49,932		189,361		149,626
Operating expenses:	'		'		'		'
Research and development	1,456		952		4,119		3,392
Selling and marketing	8,921		8,356		24,150		23,272
General and administrative	17,154		12,576		53,184		36,994
Total operating expenses	27,531		21,884		81,453		63,658
Operating income from continuing operations	31,120		28,048		107,908		85,968
Other income/(expense):	'		'		'		'
Other income/(expense), net	-6		'		35		39
Interest income	33		48		143		750
Interest expense	-1,771		-1,240		-10,490		-4,571
Total other income/(expense), net	-1,744		-1,192		-10,312		-3,782
Income from continuing operations before income taxes	29,376		26,856		97,596		82,186
Income tax expense	9,319		9,350		33,868		29,410
Income from continuing operations	20,057		17,506		63,728		52,776
Discontinued operations:	'		'		'		'
Loss from operations of discontinued security solutions division	-75		-601		-349		-3,150
Income tax expense/(benefit)	-803		2,329		-870		-3,921
Income/(loss) from discontinued operations	728		-2,930		521		771
Net income/comprehensive income	$20,785		$14,576		$64,249		$53,547
Net income per share (Note 12):	'		'		'		'
Basic - continuing operations	$0.36	[1]	$0.27	[1]	$1.07	[1]	$0.81	[1]
Basic - net income	$0.37	[1]	$0.22	[1]	$1.07	[1]	$0.82	[1]
Diluted - continuing operations	$0.35	[1]	$0.26	[1]	$1.03	[1]	$0.79	[1]
Diluted - net income	$0.36	[1]	$0.22	[1]	$1.04	[1]	$0.80	[1]
Weighted average number of common shares outstanding (Note 12):	'		'		'		'
Basic	55,583		65,149		59,815		65,457
Diluted	57,024		66,421		62,065		66,909
[1]	Net income per share may not equal earnings per share from continuing plus discontinued operations due to rounding.

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (USD $)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Comprehensive Income	Treasury Stock
In Thousands, except Share data
Balance at Apr. 30, 2013	$181,299	$68	$199,120	$8,434	$73	($26,396)
Balance (in shares) at Apr. 30, 2013	'	67,597,000	'	'	'	3,300,000
Exercise of employee stock options (in shares)	508,800	508,000	'	'	'	'
Exercise of employee stock options	1,402	'	1,402	'	'	'
Repurchase of treasury stock (in shares)	'	'	'	'	'	10,157,000
Repurchase of treasury stock	-115,887	'	'	'	'	-115,887
Stock-based compensation	6,651	'	6,651	'	'	'
Tax deduction of stock-based compensation in excess of book deductions	1,672	'	1,672	'	'	'
Shares issued under employee stock purchase plan (in shares)	84,081	84,000	'	'	'	'
Shares issued under employee stock purchase plan	624	'	624	'	'	'
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)	'	187,000	'	'	'	'
Issuance of common stock under restricted stock unit awards, net of shares surrendered	-1,087	'	-1,087	'	'	'
Net income	64,249	'	'	64,249	'	'
Balance at Jan. 31, 2014	$138,923	$68	$208,382	$72,683	$73	($142,283)
Balance (in shares) at Jan. 31, 2014	'	68,376,000	'	'	'	13,457,000

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Cash flows from operating activities:	'	'
Net income	$64,249	$53,547
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Amortization and depreciation	16,066	12,023
Loss on sale of discontinued operations, including $45 of stock-based compensation expense	'	1,222
Loss on sale/disposition of assets	52	277
Provisions for losses on accounts receivable	80	378
Change in disposal group assets and liabilities	'	-1,215
Stock-based compensation expense	6,651	3,086
Changes in operating assets and liabilities:	'	'
Accounts receivable	-6,654	9,064
Inventories	-23,809	-13,912
Prepaid expenses and other current assets	-1,869	-1,150
Income tax receivable	-5,576	-6,091
Accounts payable	14,157	-4,241
Accrued payroll	-1,083	1,867
Accrued taxes other than income	13	589
Accrued profit sharing	-1,899	-909
Accrued other expenses	-5,204	-7,795
Accrued product/municipal liability	-196	120
Accrued warranty	-483	-335
Other assets	-141	-45
Other non-current liabilities	-129	284
Net cash provided by operating activities	54,225	46,764
Cash flows from investing activities:	'	'
Proceeds from sale of business	'	7,500
Deposits on machinery and equipment	-12,415	'
Receipts from note receivable	57	55
Payments to acquire patents and software	-135	-36
Proceeds from sale of property and equipment	101	1,037
Payments to acquire property and equipment	-36,283	-28,399
Net cash used in investing activities	-48,675	-19,843
Cash flows from financing activities:	'	'
Proceeds from loans and notes payable	101,584	1,753
Cash paid for debt issue costs	-3,786	'
Payments on capital lease obligation	-447	-450
Payments on loans and notes payable	-44,824	-8,034
Payments to acquire treasury stock	-115,887	-20,000
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan	2,026	4,095
Taxes paid related to restricted stock issuance	-1,087	'
Excess tax benefit of stock-based compensation	1,672	997
Net cash used in financing activities	-60,749	-21,639
Net (decrease)/increase in cash and cash equivalents	-55,199	5,282
Cash and cash equivalents, beginning of period	100,487	56,717
Cash and cash equivalents, end of period	45,288	61,999
Supplemental disclosure of cash flow information Cash paid for:	'	'
Interest	7,615	5,252
Income taxes	$38,130	$30,976

Consolidated_Statements_Of_Cas1

Consolidated Statements Of Cash Flows (Parenthetical) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2013
Loss on sale of discontinued operations, stock-based compensation expense	$45

Organization

Organization	9 Months Ended
	Jan. 31, 2014
Organization	'
	(1) Organization:
	We are one of the world’s leading manufacturers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting, bolt action, and single shot rifles), handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We are one of the largest manufacturers of handguns, modern sporting rifles, and handcuffs in the United States and an active participant in the hunting rifle market. We sell our products under the Smith & Wesson® brand, the M&P® brand, the Thompson/Center Arms™ brand, and the Performance Center™ brand.
	We manufacture our firearm products at our facilities in Springfield, Massachusetts and Houlton, Maine. We plan to continue to offer products that leverage the over 160 year old “Smith & Wesson” brand and capitalize on the goodwill developed through our historic American tradition by expanding consumer awareness of the products we produce. In addition, we pursue opportunities to license our name and trademarks to third parties for use in association with their products and services.

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2014
Basis of Presentation	'
	(2) Basis of Presentation:
	The consolidated balance sheets as of January 31, 2014, the consolidated statements of income and comprehensive income for the nine months ended January 31, 2014 and 2013, the consolidated statement of changes in stockholders’ equity for the nine months ended January 31, 2014, and the consolidated statements of cash flows for the nine months ended January 31, 2014 and 2013 have been prepared by us, without audit.
	SWSS LLC, formerly Smith & Wesson Security Solutions, Inc. (“SWSS”), our security solutions division, is being presented as discontinued operations in the consolidated statements of income and comprehensive income for all periods presented. Unless stated otherwise, any reference to the consolidated statements of income and comprehensive income items in the notes to the consolidated financial statements refers to results from continuing operations.
	In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at January 31, 2014 and for the periods presented, have been included. All significant intercompany transactions have been eliminated in consolidation. The consolidated balance sheets as of April 30, 2013 have been derived from our audited financial statements.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2013, filed with the SEC on June 25, 2013. The results of operations for the nine months ended January 31, 2014 may not be indicative of the results that may be expected for the year ending April 30, 2014, or any other period.
	Reclassification
	Certain amounts presented in the prior periods’ consolidated statements of income and comprehensive income related to stock compensation expense have been reclassified to conform to the current period’s presentation.

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Jan. 31, 2014
Significant Accounting Policies	'
	(3) Significant Accounting Policies:
	Revenue Recognition — For our firearm products, we recognize revenue when the following four basic criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured.
	Product sales account for most of our firearm revenue. We recognize revenue from firearm product sales when the earnings process is complete and the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until customer acceptance is received. We also provide tooling, forging, heat treating, finishing, plating, and engineering support services to customers; we recognize this revenue when accepted by the customer, if applicable, when no further contingencies or material performance obligations exist, and when collectability is reasonably assured, thereby earning us the right to receive and retain payments for services performed and billed.
	We recognize trademark licensing revenue for individual licensees based on historical experience and expected cash receipts from licensees. Licensing revenue consists of minimum royalties and/or a percentage of a licensee’s sales on licensed products. Under our current licensing agreements, most of this revenue is payable on a calendar quarter basis. We recognize non-refundable license fees received upon initial signing of license agreements as revenue when no future obligation is required on our part. As a result of a combination of uncertain factors regarding existing licensees, including current and past payment performance, market acceptance of the licensees’ products, and insufficient historical experience, we believe that reasonable assurance of collectability does not exist based on the results and past payment performance of licensees in general. Therefore, we do not recognize minimum royalty payments upon contract signing, but instead record royalty revenue monthly when the minimum royalty can be reasonably estimated for that month and payment is assured.
	Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include accruals for warranty, product liability, workers’ compensation expense, environmental liability, excess and obsolete inventory, allowance for doubtful accounts, income tax expense, including deferred tax asset valuation, forfeiture rates on stock-based awards, and medical claims payable. Actual results could differ from those estimates.
	Segment Information — We have historically reported certain financial information under two segments: firearms and security solutions. As a result of our divestiture of SWSS, the results of the operations comprising the security solutions segment are now being reported as discontinued operations for all periods presented. The firearm segment has been determined to be a single operating segment and reporting segment based on management’s reliance on production metrics such as gross margin per unit produced, units produced per day, incoming orders per day, and revenue produced by trade channel, all of which are particular to the firearm segment.
	Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved.
	We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets are fixed assets, developed technology, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate that the carrying values may not be recoverable. Factors we consider important, which could trigger an impairment of such assets, include the following:
		•	significant underperformance relative to historical or projected future operating results;
		•	significant changes in the manner or use of the assets or the strategy for our overall business;
		•	significant negative industry or economic trends;
		•	significant decline in our stock price for a sustained period; and
		•	a decline in our market capitalization below net book value.
	Future adverse changes in these or other unforeseeable factors could result in an impairment charge that would materially impact future results of operations and financial position in the reporting period identified. No impairment charges were taken during the nine months ended January 31, 2014 or 2013.

Notes_Payable_and_Financing_Ar

Notes Payable and Financing Arrangements	9 Months Ended
	Jan. 31, 2014
Notes Payable and Financing Arrangements	'
	(4) Notes Payable and Financing Arrangements:
	Credit Facilities — As of January 31, 2014, we had a $75.0 million unsecured revolving credit facility that is expandable under an accordion feature that may be, in certain circumstances, increased in $25.0 million increments up to a maximum loan of $175.0 million. The credit facility replaced our prior $60.0 million credit facility and matures on December 15, 2016. The credit facility bears interest at a variable rate equal to LIBOR or prime, at our election, plus an applicable margin based on our consolidated leverage ratio. As of January 31, 2014, there were no borrowings outstanding. Had there been borrowings, they would have borne an interest rate of 3.75% per annum if we had selected the prime rate option and a range of 1.66% to 1.84% per annum if we had selected the LIBOR rate option.
	9.5% Senior Notes — During fiscal 2011, we issued an aggregate of $50.0 million of 9.5% senior notes due January 14, 2016 (“9.5% Senior Notes”) in exchange for $50.0 million of Convertible Notes pursuant to the terms and conditions of an exchange agreement and indenture (the “Senior Notes Indenture”). During the nine months ended January 31, 2013, we repurchased a total of $6.4 million of our 9.5% Senior Notes in the open market utilizing cash on hand. We paid $552,000 of interest relating to these purchases. The remaining notes were retired during the nine months ended January 31, 2014, as described below.
	5.875% Senior Notes — During the three months ended July 31, 2013, we sold an aggregate of $47.1 million of 5.875% Senior Notes due 2017 (“5.875% Senior Notes”) to various qualified institutional buyers in exchange for approximately $42.8 million of our outstanding 9.5% Senior Notes from existing holders of such notes. We also issued an additional $52.9 million of new 5.875% Senior Notes for cash. The remaining $712,000 of 9.5% Senior Notes outstanding after the exchange noted above were extinguished via legal defeasance during the three months ended July 31, 2013. As a result of this transaction, our indebtedness increased by $56.4 million and our debt service requirements increased by $1.8 million per annum. The 5.875% Senior Notes were sold pursuant to the terms and conditions of an indenture (the “5.875% Senior Notes Indenture”)and exchange and purchase agreements. The 5.875% Senior Notes bear interest at a rate of 5.875% per annum payable on June 15 and December 15 of each year, beginning on December 15, 2013. We recorded $4.3 million of interest expense and $795,000 of debt issuance write-off costs relating to the exchange and defeasance of our 9.5% Senior Notes during the three months ended July 31, 2013.
	At any time prior to June 15, 2015, we may, at our option, (a) upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.875% Senior Notes at a redemption price of 100% of the principal amount of the 5.875% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.875% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.875% of the principal amount of the 5.875% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.875% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering. On and after June 15, 2015, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.875% Senior Notes at a redemption price of (a) 102.9375% of the principal amount of the 5.875% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on June 15, 2015; or (b) 100% of the principal amount of the 5.875% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on June 15, 2016, plus, in either case, accrued and unpaid interest on the 5.875% Senior Notes as of the applicable redemption date. Subject to certain restrictions and conditions, we may be required to make an offer to repurchase the 5.875% Senior Notes in connection with a change of control or disposition of assets. If not redeemed by us or repaid pursuant to the holders’ right to require repurchase, the 5.875% Senior Notes mature on June 15, 2017.
	The 5.875% Senior Notes are general, unsecured obligations of our company. The 5.875% Senior Notes Indenture contains certain affirmative and negative covenants, including limitations on restricted payments (such as share repurchases, dividends, and early payment of indebtedness), limitations on indebtedness, limitations on the sale of assets, and limitations on liens. Share repurchases are limited to the lesser of (i) $30.0 million in any fiscal year or (ii) 75.0% of our consolidated net income for the previous four consecutive published fiscal quarters beginning with the quarter ended July 31, 2013. In addition, we were allowed to purchase an additional $85.0 million of shares in fiscal 2014, which was put in place to cover our $75.0 million tender offer and the period prior to the publication of our July 31, 2013 financial statements.
	The limitation on indebtedness in the 5.875% Senior Notes Indenture is only applicable at such time that the consolidated coverage ratio (as set forth in the 5.875% Senior Notes Indenture) for us and our restricted subsidiaries is less than 3.00 to 1.00. In general, as set forth in the 5.875% Senior Notes Indenture, the consolidated coverage ratio is determined by comparing our prior four quarters’ consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) to our consolidated interest expense.
	The revolving credit facility contains financial covenants relating to maintaining maximum leverage and minimum debt service coverage. The 5.875% Senior Notes Indenture contains a financial covenant relating to times interest earned. We were in compliance with all debt covenants as of January 31, 2014.

Capital_Lease

Capital Lease	9 Months Ended
	Jan. 31, 2014
Capital Lease	'
	(5) Capital Lease:
	On October 28, 2011, we entered into a sale-leaseback agreement that included the sale of certain machinery and equipment. We then leased a total of $3.5 million of machinery and equipment to increase production capacity. The lease has an effective interest rate of 5.76% and is payable in 60 monthly installments through fiscal 2017. Leases are accounted for under the provisions of Accounting Standards Codification (“ASC”) 840-10, Leases, which requires that leases be evaluated and classified as operating or capital leases for financial reporting purposes. Based on our evaluation of ASC 840-10, we determined that the lease qualifies as a capital lease because the net present value of future lease payments exceed 90% of the fair market value of the leased machinery and equipment. We have pledged the assets financed to secure the amounts outstanding. We have included $462,000 of short-term capital lease obligations in accrued expenses and $2.1 million in other non-current liabilities.
	The following sets forth the future minimum lease payments as of January 31, 2014 and for the fiscal years ending April 30 (in thousands):
		Capital Lease
		Obligation
	2014	$	149
	2015		596
	2016		596
	2017		1,493
	Total future minimum lease payments		2,834
	Less amounts representing interest		(301	)
	Present value of minimum lease payments		2,533
	Less current maturities of capital lease		(462	)
	Long-term maturities of capital lease	$	2,071

Inventories

Inventories	9 Months Ended
	Jan. 31, 2014
Inventories	'
	(6) Inventories:
	The following table sets forth a summary of inventories, stated at the lower of cost or market, as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Finished goods	$	31,593	$	16,379
	Finished parts		41,236		34,795
	Work in process		8,991		7,852
	Raw material		4,987		3,972
	Total inventories	$	86,807	$	62,998

Accrued_Expenses

Accrued Expenses	9 Months Ended
	Jan. 31, 2014
Accrued Expenses	'
	(7) Accrued Expenses:
	The following table sets forth other accrued expenses as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Accrued employee benefits	$	2,456	$	1,953
	Accrued professional fees		2,338		2,882
	Accrued rebates and promotions		1,327		3,900
	Accrued workers’ compensation		890		963
	Interest payable		762		1,542
	Accrued commissions		595		949
	Accrued utilities		528		537
	Current portion of capital lease obligation		462		442
	Accrued distributor incentives		153		458
	Accrued other		1,318		2,407
	Total accrued expenses	$	10,829	$	16,033

Other_Assets

Other Assets	9 Months Ended
	Jan. 31, 2014
Other Assets	'
	(8) Other Assets:
	The following table sets forth other assets as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Consignment deposits	$	14,227	$	1,812
	Debt issue costs		3,207		1,126
	Receivable from insurers		1,855		1,855
	Split dollar life insurance		1,431		1,405
	Other		936		878
	Total other assets	$	21,656	$	7,076

Advertising_Costs

Advertising Costs	9 Months Ended
	Jan. 31, 2014
Advertising Costs	'
	(9) Advertising Costs:
	We expense advertising costs, primarily consisting of magazine advertisements, printed materials, and television advertisements, either as incurred or upon the first occurrence of the advertising. Advertising expense, included in selling and marketing expenses, for continuing operations for the three months ended January 31, 2014 and 2013 was $5.4 million and $4.7 million, respectively. For the nine months ended January 31, 2014 and 2013, advertising expense for continuing operations was $13.8 million and $11.8 million, respectively.

Warranty_Reserve

Warranty Reserve	9 Months Ended
	Jan. 31, 2014
Warranty Reserve	'
	(10) Warranty Reserve:
	We generally provide a lifetime warranty to the original purchaser of our new firearm products and provide warranties for up to two years on the materials and workmanship in our security solutions projects, which includes products purchased by us from third-party manufacturers. We provide for estimated warranty obligations in the period in which we recognize the related revenue. We quantify and record an estimate for warranty-related costs based on our actual historical claims experience and current repair costs. We make adjustments to accruals as warranty claims data and historical experience warrant. Should we experience actual claims and repair costs that are higher than the estimated claims and repair costs used to calculate the provision, our operating results for the period or periods in which such returns or additional costs materialize would be adversely impacted.
	On August 22, 2013, we issued a safety alert related to all M&P ShieldTM products manufactured prior to August 19, 2013. The cost of this alert was estimated at $370,000, which is included in the accrued warranty balance. On June 13, 2013, we initiated a recall of all Thompson/Center Arms bolt action rifles manufactured since the products’ introduction in 2007. On November 11, 2011, we also initiated a recall of all Thompson/Center Arms Venture rifles manufactured since the product’s introduction in mid-2009. We estimate the remaining cost of these recalls and safety alert will be $3.4 million, which is recorded in the accrued warranty balance. Warranty expense for the nine months ended January 31, 2014 and 2013 was $1.5 million and $2.9 million, respectively.
	The following table sets forth the change in accrued warranty, a portion of which is recorded as a non-current liability, for the nine months ended January 31, 2014 and 2013 (in thousands):
		January 31, 2014			January 31, 2013
	Beginning Balance	$	8,423		$	6,412
	Warranties issued and adjustments to provisions		1,493			2,852
	Warranty claims		(2,583	)		(3,187	)
	Ending Balance	$	7,333		$	6,077

SelfInsurance_Reserves

Self-Insurance Reserves	9 Months Ended
	Jan. 31, 2014
Self-Insurance Reserves	'
	(11) Self-Insurance Reserves:
	As of January 31, 2014 and April 30, 2013, we had reserves for workers’ compensation, product liability, municipal liability, and medical/dental costs totaling $9.6 million, of which $6.0 million and $5.7 million, respectively, was classified as non-current and included in other non-current liabilities. As of January 31, 2014 and April 30, 2013, $2.2 million and $2.3 million, respectively, was included in accrued expenses, and $1.4 million and $1.6 million, respectively, was included in accrued product/municipal liability on the accompanying consolidated balance sheets. In addition, as of January 31, 2014 and April 30, 2013, $380,000 and $332,000, respectively, of excess workers’ compensation receivable was classified as an other asset. While we believe these reserves to be adequate, it is possible that the ultimate liabilities will exceed such estimates. Amounts charged to expense were $3.4 million and $3.3 million for the three months ended January 31, 2014 and 2013, respectively. Amounts charged to expense were $9.0 million and $9.6 million for the nine months ended January 31, 2014 and 2013, respectively.
	It is our policy to provide an estimate for loss as a result of expected adverse findings or legal settlements on product liability, municipal liability, workers’ compensation, and other matters when such losses are probable and are reasonably estimable. It is also our policy to accrue for reasonably estimable legal costs associated with defending such litigation. While such estimates involve a range of possible costs, we determine, in consultation with litigation counsel, the most likely cost within such range on a case-by-case basis. We also record receivables from insurance carriers relating to these matters when their collection is probable. As of January 31, 2014 and April 30, 2013, we had accrued reserves for product and municipal litigation liabilities of $4.4 million, respectively (of which $3.1 million and $2.8 million, respectively, were non-current), consisting entirely of expected legal defense costs. In addition, as of January 31, 2014 and April 30, 2013, we had recorded receivables from insurance carriers related to these liabilities of $1.9 million, nearly all of which has been classified as other assets with $25,000 classified as other current assets.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Jan. 31, 2014
Stockholders' Equity	'
	(12) Stockholders’ Equity:
	Treasury Stock
	During fiscal 2013, our board of directors authorized the repurchase of up to $35.0 million of our common stock, subject to certain conditions, in the open market or privately negotiated transactions on or prior to June 30, 2013. We repurchased 2,099,603 shares of our common stock during fiscal 2013 for $20.0 million, utilizing cash on hand, leaving $15.0 million of our common stock authorized to be repurchased. During the nine months ended January 31, 2014, our board of directors authorized the repurchase of up to $115.0 million of our common stock, of which up to $75.0 million was authorized for purchase in a tender offer and the remainder of which could be repurchased in the open market or in privately negotiated transactions. This $115.0 million authorization replaced the stock repurchase program that had been authorized in fiscal 2013. During the nine months ended January 31, 2014, we repurchased 1,417,233 shares of our common stock pursuant to the tender offer that expired on July 23, 2013 for $15.6 million and 8,740,471 shares of our common stock in the open market for $99.4 million utilizing cash on hand. We have now completed our $115.0 million stock repurchase program. Fees and expenses incurred related to the tender offer and open market purchases were $887,000 and were recorded in treasury stock.
	Earnings per Share
	The following table provides a reconciliation of the income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the nine months ended January 31, 2014 and 2013 (in thousands, except per share data):
			For the Three Months Ended January 31,						For the Nine Months Ended January 31,
			2014			2013			2014			2013
	Net income/(loss)
	Income from continuing operations		$	20,057		$	17,506		$	63,728		$	52,776
	Income/(loss) from discontinued operations, net of tax			728			(2,930	)		521			771
	Net income		$	20,785		$	14,576		$	64,249		$	53,547
	Weighted average shares outstanding - Basic			55,583			65,149			59,815			65,457
	Dilutive effect of stock option and award plans			1,441			1,272			2,250			1,452
	Diluted shares outstanding			57,024			66,421			62,065			66,909
	Earnings per share - Basic (a)
	Income from continuing operations		$	0.36		$	0.27		$	1.07		$	0.81
	Income/(loss) from discontinued operations		$	0.01		$	(0.04	)	$	0.01		$	0.01
	Net income		$	0.37		$	0.22		$	1.07		$	0.82
	Earnings per share - Diluted (a)
	Income from continuing operations		$	0.35		$	0.26		$	1.03		$	0.79
	Income/(loss) from discontinued operations		$	0.01		$	(0.04	)	$	0.01		$	0.01
	Net income		$	0.36		$	0.22		$	1.04		$	0.8
	(a)	Net income per share may not equal earnings per share from continuing plus discontinued operations due to rounding.
	For the three months ended January 31, 2014 and 2013, 40,635 and 165,946 shares of common stock, respectively, issuable upon the exercise of stock options were excluded from the computation of diluted earnings per share because the effect would be antidilutive.
	For the nine months ended January 31, 2014 and 2013, 88,965 and 209,441 shares of common stock, respectively, issuable upon exercise of stock options were excluded from the computation of diluted earnings per share because the effect would be antidilutive.
	Stock Option and Employee Stock Purchase Plans
	We have two Stock Plans (“SPs”): the 2004 Incentive Stock Plan and the 2013 Incentive Stock Plan. New grants under the 2004 Incentive Stock Plan have not been made since the approval of the 2013 Incentive Stock Plan at our September 23, 2013 annual meeting of stockholders. All new grants covering all participants are issued under the 2013 Incentive Stock Plan.
	The 2013 Incentive Stock Plan authorizes the issuance of 3,000,000 shares, plus any shares that were reserved and remained available for grant and delivery under the 2004 Incentive Stock Plan as of September 23, 2013, the effective date of the 2013 Incentive Stock Plan. The plan permits the grant of options to acquire common stock, restricted stock awards, restricted stock units (“RSUs”), stock appreciation rights, bonus stock and awards in lieu of obligations, performance awards, and dividend equivalents. Our board of directors, or a committee established by our board, administers the SPs, selects recipients to whom awards are granted, and determines the grants to be awarded. Options granted under the SPs are exercisable at a price determined by our board or committee at the time of grant, but, in no event, less than fair market value of our common stock on the date granted. Grants of options may be made to employees and directors without regard to any performance measures. All options issued pursuant to the SPs are nontransferable and subject to forfeiture.
	Unless terminated earlier by our board of directors, the 2013 Stock Plan will terminate at the earliest of (1) the tenth anniversary of the effective date of the 2013 Stock Plan, or (2) such time as no shares of common stock remain available for issuance under the plan and we have no further rights or obligations with respect to outstanding awards under the plan. The date of grant of an award is deemed to be the date upon which our board of directors or board committee authorizes the granting of such award.
	Except in specific circumstances, awards vest over a period of three years and are exercisable for a period of 10 years. The plan also permits the grant of awards to non-employees, which the board has granted in the past. A separate option grant, outside of the 2004 Incentive Stock Plan, for 500,000 shares was made at an exercise price of $1.47 per share in connection with the hiring of our former President and Chief Executive Officer during the fiscal year ended April 30, 2005. Our former President and Chief Executive Officer retired on September 26, 2011 but continues his service as a member of our board of directors and was appointed co-vice chairman of the board. As of January 31, 2014, there were 100,000 options outstanding relating to this grant, which expire on December 6, 2014.
	The number of shares and weighted average exercise prices of (i) options granted under the SPs and (ii) the separate option grant to our former President and Chief Executive Officer outside of the SPs for the nine months ended January 31, 2014 and 2013 are as follows:
			For the Nine Months Ended January 31,
			2014						2013
						Weighted-						Weighted-
						Average						Average
			Shares			Exercise Price			Shares			Exercise Price
	Options outstanding, beginning of year			3,019,127		$	5.31			3,988,164		$	4.67
	Granted during the period			—			—			3,500			11.02
	Exercised during the period			(508,800	)		2.76			(837,842	)		4.1
	Canceled/forfeited during period			(28,000	)		5.59			(105,496	)		3.91
	Options outstanding, end of period			2,482,327		$	5.83			3,048,326		$	4.86
	Weighted average remaining contractual life			5.99 years						6.39 years
	Options exercisable, end of period			2,003,639		$	5.81			2,003,040		$	5.05
	Weighted average remaining contractual life			5.56 years						5.23 years
	The aggregate intrinsic value of outstanding options as of January 31, 2014 and 2013 was $18.4 million and $13.0 million, respectively. The aggregate intrinsic value of outstanding options that were exercisable as of January 31, 2014 and 2013 was $15.0 million and $8.8 million, respectively. The aggregate intrinsic value of the options exercised for the nine months ended January 31, 2014 and 2013 was $4.8 million and $5.1 million, respectively. At January 31, 2014, the total unamortized fair value of outstanding options was $531,000, which is expected to be recognized over the remaining weighted average vesting period of 0.63 years.
	On September 26, 2011, our stockholders approved our 2011 Employee Stock Purchase Plan (“ESPP”). All options and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with our ESPP guidelines. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. During the nine months ended January 31, 2014 and 2013, 84,081 and 92,476 shares were purchased under our ESPP, respectively.
	We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We calculate the fair value of our stock options issued to employees using the Black-Scholes model at the time the options are granted. That amount is then amortized over the vesting period of the option or warrant. With our ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period.
	The following assumptions were used in valuing our options and ESPP purchases during the nine-month periods ended January 31, 2014 and 2013:
			For the Nine Months Ended January 31,
			2014			2013
	Stock option grants:
	Risk-free interest rate			—			0.31	%
	Expected term			—			5.84 - 7.84 years
	Expected volatility			—			70	%
	Dividend yield			—			0	%
	Employee Stock Purchase Plan:
	Risk-free interest rate			0.4	%		0.14	%
	Expected term			6 - 12 months			6 months
	Expected volatility			35.2	%		63.7	%
	Dividend yield			0	%		0	%
	We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using the Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables). The total stock-based compensation expense, including stock options, purchases under our ESPP, and RSUs and performance-based RSUs (“PSUs”), was $6.7 million and $3.1 million for the nine months ended January 31, 2014 and 2013, respectively. Stock-based compensation expense is included in cost of sales, sales and marketing, research and development, and general and administrative expenses.
	We grant service-based RSUs to employees, consultants, and directors. The awards are made at no cost to the recipient. An RSU represents the right to acquire one share of our common stock but does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of three years with one-third of the awards vesting on each anniversary date of the grant date. The aggregate fair value of our RSU grants is being amortized to compensation expense over the vesting period.
	We grant PSUs with market conditions to our executive officers. We grant PSUs without market conditions to our employees who are not executive officers, including for the successful implementation of our new enterprise resource planning (“ERP”) system. At the time of grant, we calculate the fair value of our market condition PSUs using the Monte-Carlo simulation (using the risk-free interest rate, expected volatility, the correlation coefficient utilizing the same historical price data used to develop the volatility assumptions and dividend yield variables).
The market-condition PSUs vest, and the fair value of such PSUs will be recognized, over the corresponding three-year performance period. Our market-condition PSUs have a maximum aggregate award equal to 200% of the target amount granted. The number of market-condition PSUs that may be earned depends upon the total stockholder return (“TSR”) of our common stock compared to the TSR of the Russell 2000 Index (the “RUT”) or the NASDAQ Composite Index (the “IXIC”), as applicable, over the three-year performance period. Our stock must outperform the RUT or the IXIC, as applicable, by 10% in order for the target award to be earned.
During the nine months ended January 31, 2014, we granted 457,156 service-based RSUs, including 250,000 RSUs to certain of our executive officers, 42,238 RSUs to our directors, and 159,918 RSUs to non-executive officer employees. In addition, we granted and vested 30,000 market-condition PSUs to an officer and former officer in connection with a 2010 award that achieved the maximum aggregate award. Compensation expense recognized related to grants of RSUs and PSUs was $5.2 million for the nine months ended January 31, 2014.
During the nine months ended January 31, 2014, we cancelled 16,294 service-based RSUs as a result of the service period condition not being met and delivered 276,064 shares of common stock to current employees under vested RSUs and PSUs with a total market value of $3.2 million.
During the nine months ended January 31, 2013, we granted 68,946 service-based RSUs and 63,050 PSUs without market-conditions to employees and cancelled 12,664 service-based RSUs and 35,000 market-condition PSUs due to the service period condition not being met. Compensation expense recognized related to grants of RSUs and PSUs was $1.3 million for the nine months ended January 31, 2013. During the nine months ended January 31, 2013, we delivered 19,863 shares of common stock to current employees, consultants, and a former employee under vested RSUs with a total market value of $161,000.
A summary of activity in unvested RSUs and PSUs for the nine months ended January 31, 2014 and 2013 are as follows:
		For the Nine Months Ended January 31,
		2014						2013
		Total # of			Weighted Average			Total # of			Weighted Average
		Restricted			Grant Date			Restricted			Grant Date
		Stock Units			Fair Value			Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of year			781,586		$	8.42			384,140		$	7.91
Awarded			487,156			10.32			131,996			9.45
Vested			(276,064	)		8.61			(19,863	)		9.66
Forfeited			(16,294	)		8.89			(47,664	)		5.84
RSUs and PSUs outstanding, end of period			976,384		$	9.2			448,609		$	8.07
As of January 31, 2014, there was $3.9 million of unrecognized compensation cost related to unvested RSUs and PSUs. This cost is expected to be recognized over a weighted average remaining contractual term of 1.2 years.

Income_Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2014
Income Taxes	'
	(13) Income Taxes:
	We use an asset and liability approach for financial accounting and reporting of income taxes. Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured by applying enacted tax rates and laws to the taxable years in which differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
	With limited exceptions, we are subject to U.S. federal, state, local, and non-U.S. income tax audits by tax authorities for fiscal years subsequent to April 30, 2009.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2014
Commitments and Contingencies	'
	(14) Commitments and Contingencies:
	Litigation
	On January 19, 2010, the U.S. Department of Justice (“DOJ”) unsealed indictments of 22 individuals from the law enforcement and military equipment industries, one of whom was our former Vice President-Sales, International & U.S. Law Enforcement. We were not charged in the indictment. We also were served with a Grand Jury subpoena for the production of documents. We have always taken, and continue to take seriously, our obligation as an industry leader to foster a responsible and ethical culture, which includes adherence to laws and industry regulations in the United States and abroad. Although we are cooperating fully with the DOJ in this matter and have undertaken a comprehensive review of company policies and procedures, the DOJ may determine that we have violated the Foreign Corrupt Practices Act of 1977, as amended (“FCPA”). On February 21, 2012, the DOJ filed a motion to dismiss with prejudice the indictments of the remaining defendants who were pending trial, including our former Vice President-Sales, International & U.S. Law Enforcement. On February 24, 2012, the district court granted the motion to dismiss. We cannot predict, however, when the investigation will be completed or its outcome. There could be additional indictments of our company, our officers, or our employees. If the DOJ determines that we violated FCPA laws, we may face sanctions, including significant civil and criminal penalties. In addition, we could be prevented from bidding on domestic military and government contracts and could risk debarment by the U.S. Department of State. We also face increased legal expenses and could see an increase in the cost of doing international business. We could also see private civil litigation arising as a result of the outcome of the investigation. In addition, responding to the investigation may divert the time and attention of our management from normal business operations. Regardless of the outcome of the investigation, the publicity surrounding the investigation and the potential risks associated with the investigation could negatively impact the perception of our company by investors, customers, and others.
	In fiscal 2011, we received a subpoena from the staff of the SEC giving notice that the SEC is conducting a non-public, fact-finding inquiry to determine whether there have been any violations of the federal securities laws. It appears this civil inquiry was triggered in part by the DOJ investigation into potential FCPA violations. Although we are cooperating fully with the SEC in this matter, the SEC may determine that we have violated federal securities laws. We cannot predict when this inquiry will be completed or its outcome. If the SEC determines that we have violated federal securities laws, we may face injunctive relief, disgorgement of ill-gotten gains, and sanctions, including fines and penalties, or may be forced to take corrective actions that could increase our costs or otherwise adversely affect our business, results of operations, and liquidity. We also face increased legal expenses and could see an increase in the cost of doing business. We could also see private civil litigation arising as a result of the outcome of this inquiry. In addition, responding to the inquiry may divert the time and attention of our management from normal business operations. Regardless of the outcome of the inquiry, the publicity surrounding the inquiry and the potential risks associated with the inquiry could negatively impact the perception of our company by investors, customers, and others.
	We are involved in a purported stockholder derivative lawsuit. These actions were brought by putative plaintiffs on behalf of our company against certain of our officers, directors, and employees. The lawsuit is based principally on a theory of breach of fiduciary duties. The putative plaintiffs seek damages on behalf of our company from the individual defendants. Damages sought include equitable and/or injunctive relief, actions to improve corporate governance, and recovery of attorneys’ fees.
	A settlement reached in a previously reported stockholder derivative lawsuit has been approved by the court. Settlement costs related to this case do not have a material impact on our financial statements and have been fully reserved up to our self-insured retention, with any remaining value expected to be covered by insurance.
	We are a defendant in 14 product liability cases and are aware of approximately five other product liability claims, primarily alleging defective product design, defective manufacturing, or failure to provide adequate warnings. In addition, we are a co-defendant in a case filed on August 27, 1999 by the city of Gary, Indiana against numerous firearm manufacturers, distributors, and dealers seeking to recover damages allegedly arising out of the misuse of firearms by third parties. We believe that the various allegations as described above are unfounded, and, in addition, that any accident and any results from them were due to negligence or misuse of the firearm by the claimant or a third party.
	In addition, we are involved in lawsuits, claims, investigations, and proceedings, including commercial, environmental, and employment matters, which arise in the ordinary course of business.
	The relief sought in individual cases primarily includes compensatory and, sometimes, punitive damages. Certain of the cases and claims seek unspecified compensatory or punitive damages. In others, compensatory damages sought may range from less than $75,000 to in excess of $1.4 million. In our experience, initial demands do not generally bear a reasonable relationship to the facts and circumstances of a particular matter. We believe that our accruals for product liability cases and claims, as described below, are a reasonable quantitative measure of the cost to us of product liability cases and claims.
	We are vigorously defending ourselves in the lawsuits to which we are subject. An unfavorable outcome or prolonged litigation could harm our business. Litigation of this nature also is expensive and time consuming and diverts the time and attention of our management.
	We monitor the status of known claims as compared with our product liability reserves, which includes amounts for defense costs for asserted and un-asserted claims. After consultation with litigation counsel and the review of the merit of each claim, we have concluded that we are unable to reasonably estimate the probability or the estimated range of reasonably possible losses related to material adverse judgments related to such claims and, therefore we have not accrued for any such judgments. In addition, in the future, should we determine that a loss (or an additional loss in excess of our accrual) was at least reasonably possible and material, we would then disclose an estimate of the possible loss or range of loss, if such estimate could be made, or disclose that an estimate could not be made. We believe that we have provided adequate reserves for defense costs and intend to vigorously defend ourselves.
	We have recorded our liability for defense costs before consideration for reimbursement from insurance carriers. We have also recorded the amount due as reimbursement under existing policies from the insurance carriers as a receivable shown in other current assets and other assets.
	Environmental Remediation
	We are subject to numerous federal, state, and local laws that regulate both the health and safety of our workforce as well as our environmental liability, including those regulations monitored by the Occupational Health and Safety Administration (OSHA), National Fire Protection Association (NFPA), and the Department of Public Health (DPH). Though not exhaustive, examples of applicable regulations include confined space safety, walking and working surfaces, machine guarding, and life safety.
	We are required to comply with regulations that mitigate any release into the environment. These laws have required, and are expected to continue to require, us to make significant expenditures of both a capital and expense nature. Several of the more significant federal laws applicable to our operations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), and the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act.
	We have in place programs and personnel to monitor compliance with various federal, state, and local environmental regulations. In the normal course of our manufacturing operations, we are subject to governmental proceedings and orders pertaining to waste disposal, air emissions, and water discharges into the environment. We fund our environmental costs through cash flows from operations. We believe that we are in compliance with applicable environmental regulations in all material respects.
	We are required to remediate hazardous waste at our facilities. Currently, we own designated sites in Springfield, Massachusetts and are subject to two release areas, which are the focus of remediation projects as part of the Massachusetts Contingency Plan (“MCP”). The MCP provides a structured environment for the voluntary remediation of regulated releases. We may be required to remove hazardous waste or remediate the alleged effects of hazardous substances on the environment associated with past disposal practices at sites not owned by us. We have received notice that we are a potentially responsible party from the Environmental Protection Agency and/or individual states under CERCLA or a state equivalent at two sites.
	As of January 31, 2014 and April 30, 2013, respectively, we had recorded $623,000 and $577,000 of the environmental reserve in non-current liabilities. We have calculated the net present value of the environmental reserve to be equal to the carrying value of the liability recorded on our books. Our estimate of these costs is based upon currently enacted laws and regulations, currently available facts, experience in remediation efforts, existing technology, and the ability of other potentially responsible parties or contractually liable parties to pay the allocated portions of any environmental obligations.
	When the available information is sufficient to estimate the amount of liability, that estimate has been used. When the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. We may not have insurance coverage for our environmental remediation costs. We have not recognized any gains from probable recoveries or other gain contingencies. The environmental reserve was calculated using undiscounted amounts based on independent environmental remediation reports obtained.
	Based on information known to us, we do not expect current environmental regulations or environmental proceedings and claims to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. However, it is not possible to predict with certainty the impact on us of future environmental compliance requirements or of the cost of resolution of future environmental proceedings and claims, in part because the scope of the remedies that may be required is not certain, liability under federal environmental laws is joint and several in nature, and environmental laws and regulations are subject to modification and changes in interpretation. There can be no assurance that additional or changing environmental regulation will not become more burdensome in the future and that any such development would not have a material adverse effect on our company.
	Suppliers
	The inability to obtain sufficient quantities of components, parts, raw materials, and other supplies from independent sources necessary for the production of our products could result in reduced or delayed sales or lost orders. Any delay in or loss of sales could adversely impact our operating results. Many of the components, parts, raw materials, and other supplies used in the production of our products are available only from a limited number of suppliers. In most cases, we do not have long-term supply contracts with these suppliers.
	Contracts
	Employment Agreements — We have employment, severance, and change of control agreements with certain officers and managers.
	Other Agreements — We have distribution agreements with various third parties in the ordinary course of business.
	Outstanding Letters of Credit/Restricted Cash — We had open letters of credit aggregating $1.1 million and no restricted cash as of January 31, 2014.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Jan. 31, 2014
Fair Value Measurements	'
	(15) Fair Value Measurements:
	In accordance with ASC 820-10, Fair Value Measurements and Disclosures Topic, financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
	Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities).
	Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following:
		•		quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently);
		•		inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and
		•		inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives).
	We currently do not have any Level 2 financial assets or liabilities.
	Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 3 financial assets or liabilities.
	The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of January 31, 2014 and April 30, 2013, respectively, and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair value (in thousands):
	Description		January 31, 2014		(Level 1)		April 30, 2013		(Level 1)
	Assets:
	Cash equivalents (a)		$	45,273	$	45,273	$	100,413	$	100,413
	Total assets		$	45,273	$	45,273	$	100,413	$	100,413
	a)	Cash and cash equivalents include interest bearing cash and money market accounts.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Jan. 31, 2014
Recent Accounting Pronouncements	'
	(16) Recent Accounting Pronouncements:
	Recently Issued Accounting Standards
	In April 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2013-11, Income Taxes (Topic 740)—Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in ASU 2013-11 require companies to present an unrecognized tax benefit, or a portion thereof, as a reduction to a deferred tax asset for a net operating loss (NOL) carryforward or a similar tax loss or tax credit carryforward, unless the uncertain tax position is not available to reduce, or would not be used to reduce, the NOL or carryforward under the tax law in the same jurisdiction; otherwise, the unrecognized tax benefit should be presented as a gross liability and should not net the unrecognized tax benefit with a deferred tax asset. Early adoption and retrospective application is permitted. The adoption of this ASU did not have a material impact on our consolidated financial statements.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Jan. 31, 2014
Reclassification	'
	Reclassification
	Certain amounts presented in the prior periods’ consolidated statements of income and comprehensive income related to stock compensation expense have been reclassified to conform to the current period’s presentation.
Revenue Recognition	'
	Revenue Recognition — For our firearm products, we recognize revenue when the following four basic criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured.
	Product sales account for most of our firearm revenue. We recognize revenue from firearm product sales when the earnings process is complete and the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until customer acceptance is received. We also provide tooling, forging, heat treating, finishing, plating, and engineering support services to customers; we recognize this revenue when accepted by the customer, if applicable, when no further contingencies or material performance obligations exist, and when collectability is reasonably assured, thereby earning us the right to receive and retain payments for services performed and billed.
	We recognize trademark licensing revenue for individual licensees based on historical experience and expected cash receipts from licensees. Licensing revenue consists of minimum royalties and/or a percentage of a licensee’s sales on licensed products. Under our current licensing agreements, most of this revenue is payable on a calendar quarter basis. We recognize non-refundable license fees received upon initial signing of license agreements as revenue when no future obligation is required on our part. As a result of a combination of uncertain factors regarding existing licensees, including current and past payment performance, market acceptance of the licensees’ products, and insufficient historical experience, we believe that reasonable assurance of collectability does not exist based on the results and past payment performance of licensees in general. Therefore, we do not recognize minimum royalty payments upon contract signing, but instead record royalty revenue monthly when the minimum royalty can be reasonably estimated for that month and payment is assured.
Use of Estimates	'
	Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include accruals for warranty, product liability, workers’ compensation expense, environmental liability, excess and obsolete inventory, allowance for doubtful accounts, income tax expense, including deferred tax asset valuation, forfeiture rates on stock-based awards, and medical claims payable. Actual results could differ from those estimates.
Segment Information	'
	Segment Information — We have historically reported certain financial information under two segments: firearms and security solutions. As a result of our divestiture of SWSS, the results of the operations comprising the security solutions segment are now being reported as discontinued operations for all periods presented. The firearm segment has been determined to be a single operating segment and reporting segment based on management’s reliance on production metrics such as gross margin per unit produced, units produced per day, incoming orders per day, and revenue produced by trade channel, all of which are particular to the firearm segment.
Valuation of Long-lived Tangible and Intangible Assets	'
	Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved.
	We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets are fixed assets, developed technology, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate that the carrying values may not be recoverable. Factors we consider important, which could trigger an impairment of such assets, include the following:
		•	significant underperformance relative to historical or projected future operating results;
		•	significant changes in the manner or use of the assets or the strategy for our overall business;
		•	significant negative industry or economic trends;
		•	significant decline in our stock price for a sustained period; and
		•	a decline in our market capitalization below net book value.
	Future adverse changes in these or other unforeseeable factors could result in an impairment charge that would materially impact future results of operations and financial position in the reporting period identified. No impairment charges were taken during the nine months ended January 31, 2014 or 2013.
Fair Value Measurements and Disclosures Topic	'
	In accordance with ASC 820-10, Fair Value Measurements and Disclosures Topic, financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
	Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities).
	Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following:
		•	quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently);
		•	inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and
		•	inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives).
	We currently do not have any Level 2 financial assets or liabilities.
	Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 3 financial assets or liabilities.
Recently Issued Accounting Standards	'
	Recently Issued Accounting Standards
	In April 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2013-11, Income Taxes (Topic 740)—Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in ASU 2013-11 require companies to present an unrecognized tax benefit, or a portion thereof, as a reduction to a deferred tax asset for a net operating loss (NOL) carryforward or a similar tax loss or tax credit carryforward, unless the uncertain tax position is not available to reduce, or would not be used to reduce, the NOL or carryforward under the tax law in the same jurisdiction; otherwise, the unrecognized tax benefit should be presented as a gross liability and should not net the unrecognized tax benefit with a deferred tax asset. Early adoption and retrospective application is permitted. The adoption of this ASU did not have a material impact on our consolidated financial statements.

Capital_Lease_Tables

Capital Lease (Tables)	9 Months Ended
	Jan. 31, 2014
Future Minimum Lease Payments	'
	The following sets forth the future minimum lease payments as of January 31, 2014 and for the fiscal years ending April 30 (in thousands):
		Capital Lease
		Obligation
	2014	$	149
	2015		596
	2016		596
	2017		1,493
	Total future minimum lease payments		2,834
	Less amounts representing interest		(301	)
	Present value of minimum lease payments		2,533
	Less current maturities of capital lease		(462	)
	Long-term maturities of capital lease	$	2,071

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Jan. 31, 2014
Summary of Inventories	'
	The following table sets forth a summary of inventories, stated at the lower of cost or market, as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Finished goods	$	31,593	$	16,379
	Finished parts		41,236		34,795
	Work in process		8,991		7,852
	Raw material		4,987		3,972
	Total inventories	$	86,807	$	62,998

Accrued_Expenses_Tables

Accrued Expenses (Tables)	9 Months Ended
	Jan. 31, 2014
Summary of Accrued Expenses	'
	The following table sets forth other accrued expenses as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Accrued employee benefits	$	2,456	$	1,953
	Accrued professional fees		2,338		2,882
	Accrued rebates and promotions		1,327		3,900
	Accrued workers’ compensation		890		963
	Interest payable		762		1,542
	Accrued commissions		595		949
	Accrued utilities		528		537
	Current portion of capital lease obligation		462		442
	Accrued distributor incentives		153		458
	Accrued other		1,318		2,407
	Total accrued expenses	$	10,829	$	16,033

Other_Assets_Tables

Other Assets (Tables)	9 Months Ended
	Jan. 31, 2014
Other Assets	'
	The following table sets forth other assets as of January 31, 2014 and April 30, 2013 (in thousands):
		January 31, 2014		April 30, 2013
	Consignment deposits	$	14,227	$	1,812
	Debt issue costs		3,207		1,126
	Receivable from insurers		1,855		1,855
	Split dollar life insurance		1,431		1,405
	Other		936		878
	Total other assets	$	21,656	$	7,076

Warranty_Reserve_Tables

Warranty Reserve (Tables)	9 Months Ended
	Jan. 31, 2014
Change in Accrued Warranty	'
	The following table sets forth the change in accrued warranty, a portion of which is recorded as a non-current liability, for the nine months ended January 31, 2014 and 2013 (in thousands):
		January 31, 2014			January 31, 2013
	Beginning Balance	$	8,423		$	6,412
	Warranties issued and adjustments to provisions		1,493			2,852
	Warranty claims		(2,583	)		(3,187	)
	Ending Balance	$	7,333		$	6,077

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	9 Months Ended
	Jan. 31, 2014
Reconciliation of Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share	'
	The following table provides a reconciliation of the income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the nine months ended January 31, 2014 and 2013 (in thousands, except per share data):
			For the Three Months Ended January 31,						For the Nine Months Ended January 31,
			2014			2013			2014			2013
	Net income/(loss)
	Income from continuing operations		$	20,057		$	17,506		$	63,728		$	52,776
	Income/(loss) from discontinued operations, net of tax			728			(2,930	)		521			771
	Net income		$	20,785		$	14,576		$	64,249		$	53,547
	Weighted average shares outstanding - Basic			55,583			65,149			59,815			65,457
	Dilutive effect of stock option and award plans			1,441			1,272			2,250			1,452
	Diluted shares outstanding			57,024			66,421			62,065			66,909
	Earnings per share - Basic (a)
	Income from continuing operations		$	0.36		$	0.27		$	1.07		$	0.81
	Income/(loss) from discontinued operations		$	0.01		$	(0.04	)	$	0.01		$	0.01
	Net income		$	0.37		$	0.22		$	1.07		$	0.82
	Earnings per share - Diluted (a)
	Income from continuing operations		$	0.35		$	0.26		$	1.03		$	0.79
	Income/(loss) from discontinued operations		$	0.01		$	(0.04	)	$	0.01		$	0.01
	Net income		$	0.36		$	0.22		$	1.04		$	0.8
	(a)	Net income per share may not equal earnings per share from continuing plus discontinued operations due to rounding.
Share Based Compensation Stock Options Activity	'
	The number of shares and weighted average exercise prices of (i) options granted under the SPs and (ii) the separate option grant to our former President and Chief Executive Officer outside of the SPs for the nine months ended January 31, 2014 and 2013 are as follows:
			For the Nine Months Ended January 31,
			2014						2013
						Weighted-						Weighted-
						Average						Average
			Shares			Exercise Price			Shares			Exercise Price
	Options outstanding, beginning of year			3,019,127		$	5.31			3,988,164		$	4.67
	Granted during the period			—			—			3,500			11.02
	Exercised during the period			(508,800	)		2.76			(837,842	)		4.1
	Canceled/forfeited during period			(28,000	)		5.59			(105,496	)		3.91
	Options outstanding, end of period			2,482,327		$	5.83			3,048,326		$	4.86
	Weighted average remaining contractual life			5.99 years						6.39 years
	Options exercisable, end of period			2,003,639		$	5.81			2,003,040		$	5.05
	Weighted average remaining contractual life			5.56 years						5.23 years
Share Based Payment Award Employee Stock Purchase Plan Valuation Assumptions	'
	The following assumptions were used in valuing our options and ESPP purchases during the nine-month periods ended January 31, 2014 and 2013:
			For the Nine Months Ended January 31,
			2014			2013
	Stock option grants:
	Risk-free interest rate			—			0.31	%
	Expected term			—			5.84 - 7.84 years
	Expected volatility			—			70	%
	Dividend yield			—			0	%
	Employee Stock Purchase Plan:
	Risk-free interest rate			0.4	%		0.14	%
	Expected term			6 - 12 months			6 months
	Expected volatility			35.2	%		63.7	%
	Dividend yield			0	%		0	%
Summary of Activity in Unvested RSUs and PSUs	'
	A summary of activity in unvested RSUs and PSUs for the nine months ended January 31, 2014 and 2013 are as follows:
			For the Nine Months Ended January 31,
			2014						2013
			Total # of			Weighted Average			Total # of			Weighted Average
			Restricted			Grant Date			Restricted			Grant Date
			Stock Units			Fair Value			Stock Units			Fair Value
	RSUs and PSUs outstanding, beginning of year			781,586		$	8.42			384,140		$	7.91
	Awarded			487,156			10.32			131,996			9.45
	Vested			(276,064	)		8.61			(19,863	)		9.66
	Forfeited			(16,294	)		8.89			(47,664	)		5.84
	RSUs and PSUs outstanding, end of period			976,384		$	9.2			448,609		$	8.07

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 31, 2014
Fair Value of Assets Measured on Recurring Basis	'
	The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of January 31, 2014 and April 30, 2013, respectively, and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair value (in thousands):
	Description		January 31, 2014		(Level 1)		April 30, 2013		(Level 1)
	Assets:
	Cash equivalents (a)		$	45,273	$	45,273	$	100,413	$	100,413
	Total assets		$	45,273	$	45,273	$	100,413	$	100,413
	a)	Cash and cash equivalents include interest bearing cash and money market accounts.

Significant_Accounting_Policie1

Significant Accounting Policies - Additional Information (Detail)	9 Months Ended
	Jan. 31, 2014
	Segment
Product Information [Line Items]	'
Number of segments	2

Notes_Payable_and_Financing_Ar1

Notes Payable and Financing Arrangements - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Apr. 30, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jul. 31, 2013

Jan. 31, 2013

Apr. 30, 2011

Jul. 31, 2013

Jul. 31, 2013

Jan. 31, 2014

Jul. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Maximum

Maximum

Tender Offer

Unsecured Revolving Credit Facility

Unsecured Revolving Credit Facility

Unsecured Revolving Credit Facility

Unsecured Revolving Credit Facility

Credit Facilities

9.5% Senior notes due 2016

9.5% Senior notes due 2016

9.5% Senior notes due 2016

9.5% Senior notes due 2016

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

5.875% Senior notes due 2017

Maximum

Prime Rate Option

Minimum

Maximum

Extinguished Indebtedness

Additional Debt

Maximum

Debt Instrument, Redemption, Period One

Debt Instrument, Redemption, Period One

Debt Instrument, Redemption, Period One

Debt Instrument, Redemption, Period One

Debt Instrument, Redemption, Period One

Debt Instrument, Redemption, Period Two

Debt Instrument, Redemption, Period Two

Debt Instrument, Redemption, Period Two

Debt Instrument, Redemption, Period Two

Debt Instrument, Redemption, Period Two

Additional Shares Allowed to be Repurchased

LIBOR Rate Option

LIBOR Rate Option

Minimum

Maximum

Debt Instrument Redemption Scenario One

Debt Instrument Redemption Scenario Two

Minimum

Maximum

Debt Instrument Redemption Scenario One

Debt Instrument Redemption Scenario Two

Fiscal 2014

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility

'

'

'

'

'

'

'

$75,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility increments

'

'

'

'

'

'

'

25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Letter of credit borrowing capacity

'

'

'

'

'

'

'

175,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Decrease in revolving line of credit

'

'

'

'

'

'

'

'

'

'

'

60,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit facility, maturity

'

'

'

'

'

'

'

15-Dec-16

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Description of revolving Line of Credit

'

'

'

'

'

'

'

'Variable rate equal to LIBOR or prime, at our election, plus an applicable margin based on our consolidated leverage ratio

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowings outstanding

'

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate on borrowings

'

'

'

'

'

'

'

'

3.75%

1.66%

1.84%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notes issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

47,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of convertible notes exchanged for senior notes

'

'

'

'

'

'

'

'

'

'

'

'

42,800,000

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

9.50%

9.50%

5.88%

'

'

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'

'

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'

'

Debt instrument, maturity Date

'

'

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'

14-Jan-16

'

'

15-Jun-17

'

'

'

'

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'

'

'

'

'

'

'

'

Payment for repurchase of Senior Notes

'

'

'

'

'

'

'

'

'

'

'

'

'

6,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Finance cost of Senior Notes

'

'

'

'

'

'

'

'

'

'

'

'

'

552,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Indebtedness increased

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

56,400,000

'

52,900,000

'

'

'

'

'

'

'

'

'

'

'

'

Annual increase in Debt service requirements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of Senior Notes defeased

'

'

'

'

'

'

'

'

'

'

'

'

712,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

1,771,000

1,240,000

10,490,000

4,571,000

'

'

'

'

'

'

'

'

'

'

'

4,300,000

'

'

'

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'

'

Debt issuance write-off costs

'

'

'

'

'

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'

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'

'

'

795,000

'

'

'

'

'

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'

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Notice Period of Senior Notes

'

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'

'30 days

'60 days

'

'

'

'30 days

'60 days

'

'

'

Description of redemption for senior notes

'

'

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'

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'

'

'

'

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'

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'

'

'(a) upon not less than 30 nor more than 60 daysb prior notice, redeem all or a portion of the 5.875% Senior Notes at a redemption price of 100% of the principal amount of the 5.875% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.875% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.875% of the principal amount of the 5.875% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.875% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering.

'

'

'

'

'upon not less than 30 nor more than 60 daysb prior notice, redeem all or a portion of the 5.875% Senior Notes at a redemption price of (a) 102.9375% of the principal amount of the 5.875% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on June 15, 2015; or (b) 100% of the principal amount of the 5.875% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on June 15, 2016, plus, in either case, accrued and unpaid interest on the 5.875% Senior Notes as of the applicable redemption date.

'

'

'

'

'

Redemption price of Senior Notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

105.88%

'

'

'

102.94%

100.00%

'

Percentage of redeem notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

35.00%

'

'

'

'

'

'

Percentage of principal amount that remains outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

65.00%

'

'

'

'

'

'

'

Senior Notes Indenture, number of shares allowed for repurchase

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30,000,000

'

'

'

'

'

'

'

'

'

'

85,000,000

Senior Notes Indenture, maximum number of shares allowed for repurchase as a percentage of Consolidated net income for previous four consecutive published fiscal quarters

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock repurchase authorization

'

'

'

'

$115,000,000

$35,000,000

$75,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Consolidated coverage ratio

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Capital_Lease_Additional_Infor

Capital Lease - Additional Information (Detail) (USD $)	1 Months Ended	9 Months Ended
	Oct. 28, 2011	Jan. 31, 2014	Apr. 30, 2013
		Installment
Capital Leased Assets [Line Items]	'	'	'
Proceeds from lease of machinery and equipment	$3,500,000	'	'
Effective interest rate	5.76%	'	'
Number of monthly installments	'	60	'
Condition of lease qualifies as capital lease	'	'Net present value of future lease payments exceed 90% of the fair market value of the leased machinery and equipment	'
Percentage of fair market value for qualifying as capital lease	'	90.00%	'
Current portion of capital lease obligations	'	462,000	442,000
Non-current portion of capital lease obligations	'	$2,071,000	'

Future_Minimum_Lease_Payments_

Future Minimum Lease Payments (Detail) (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, unless otherwise specified
Capital Leased Assets [Line Items]	'	'
2014	$149	'
2015	596	'
2016	596	'
2017	1,493	'
Total future minimum lease payments	2,834	'
Less amounts representing interest	-301	'
Present value of minimum lease payments	2,533	'
Less current maturities of capital lease	-462	-442
Long-term maturities of capital lease	$2,071	'

Summary_of_Inventories_Detail

Summary of Inventories (Detail) (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Finished goods	$31,593	$16,379
Finished parts	41,236	34,795
Work in process	8,991	7,852
Raw materials	4,987	3,972
Total inventories	$86,807	$62,998

Summary_of_Accrued_Expenses_De

Summary of Accrued Expenses (Detail) (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, unless otherwise specified
Accrued Expenses [Line Items]	'	'
Accrued employee benefits	$2,456	$1,953
Accrued professional fees	2,338	2,882
Accrued rebates and promotions	1,327	3,900
Accrued workers' compensation	890	963
Interest payable	762	1,542
Accrued commissions	595	949
Accrued utilities	528	537
Current portion of capital lease obligation	462	442
Accrued distributor incentives	153	458
Accrued other	1,318	2,407
Total accrued expenses	$10,829	$16,033

Other_Assets_Detail

Other Assets (Detail) (USD $)	Jan. 31, 2014	Apr. 30, 2013
In Thousands, unless otherwise specified
Schedule of Other Assets [Line Items]	'	'
Consignment deposits	$14,227	$1,812
Debt issue costs	3,207	1,126
Receivable from insurers	1,855	1,855
Split dollar life insurance	1,431	1,405
Other	936	878
Total other assets	$21,656	$7,076

Advertising_Costs_Additional_I

Advertising Costs - Additional Information (Detail) (Selling and Marketing Expense, USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014	Jan. 31, 2013
Selling and Marketing Expense	'	'	'	'
Advertising Costs [Line Items]	'	'	'	'
Advertising expense for continuing operations	$5.40	$4.70	$13.80	$11.80

Warranty_Reserve_Additional_In

Warranty Reserve - Additional Information (Detail) (USD $)	9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Apr. 30, 2013	Apr. 30, 2012	Aug. 22, 2013
					M&P Shield TM
Standard Product Warranty Accrual [Line Items]	'	'	'	'	'
Accrued warranty	$7,333,000	$6,077,000	$8,423,000	$6,412,000	$370,000
Remaining cost related to recall costs	3,400,000	'	'	'	'
Warranty expense	$1,500,000	$2,900,000	'	'	'

Change_in_Accrued_Warranty_Det

Change in Accrued Warranty (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013
Standard Product Warranty Accrual [Line Items]	'	'
Beginning Balance	$8,423	$6,412
Warranties issued and adjustments to provisions	1,493	2,852
Warranty claims	-2,583	-3,187
Ending Balance	$7,333	$6,077

SelfInsurance_Reserves_Additio

Self-Insurance Reserves - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014	Jan. 31, 2013	Apr. 30, 2013
Self Insurance Reserves [Line Items]	'	'	'	'	'
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs	$9,600,000	'	$9,600,000	'	$9,600,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, Non-current portion	6,000,000	'	6,000,000	'	5,700,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, included in accrued expenses	2,200,000	'	2,200,000	'	2,300,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, included in accrued product/municipal liability	1,400,000	'	1,400,000	'	1,600,000
Workers' compensation receivable classified as an other asset	380,000	'	380,000	'	332,000
Amounts charged to expense	3,400,000	3,300,000	9,000,000	9,600,000	'
Accrued reserves for product and municipal litigation liabilities	4,400,000	'	4,400,000	'	4,400,000
Accrued reserves for product and municipal litigation liabilities, Non-current portion	3,100,000	'	3,100,000	'	2,800,000
Receivables from insurance carriers, included in other assets	1,900,000	'	1,900,000	'	1,900,000
Receivables from insurance carriers, included in other current assets	$25,000	'	$25,000	'	$25,000

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)

9 Months Ended

12 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Jan. 31, 2014

Jan. 31, 2013

Apr. 30, 2013

Apr. 30, 2012

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Apr. 30, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2013

Former President And Chief Executive Officer as financial targets for the fiscal year ended April 30, 2010

2004 Incentive Stock Plan

2013 Incentive Stock Plan

Tender Offer

Open Market

Maximum

Maximum

Maximum

General and administrative

General and administrative

RSUs and PSUs

RSUs and PSUs

Stock Options

RSUs

RSUs

RSUs

RSUs

RSUs

PSUs without market-conditions

PSUs

PSUs

Stock Options

Stock Options

Stock Options

Stock Options

Y

Tender Offer

Executive Officer

Director

Non-Executive Officer

Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock repurchase authorization

'

'

'

'

'

'

'

'

'

$115,000,000

$35,000,000

$75,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchasing shares

'

'

2,099,603

'

'

'

'

1,417,233

8,740,471

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase shares value

115,000,000

'

20,000,000

'

'

'

'

15,600,000

99,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock repurchase remaining authorized amount

'

'

15,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fees and expenses incurred related to tender offer and open market purchases

887,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of common stock issuable with antidilutive effect

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40,635

165,946

88,965

209,441

Number of stock option plans

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Authorized of common stock

'

'

'

'

'

'

3,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period to award vested and calculate volatility rate

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period of award vested exercisable

'

'

'

'

'

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Option granted

'

3,500

'

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price per share

'

$11.02

'

'

$1.47

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options outstanding

2,482,327

3,048,326

3,019,127

3,988,164

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expiration date of options outstanding

'

'

'

'

6-Dec-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intrinsic value of stock outstanding

18,400,000

13,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intrinsic value of stock exercisable

15,000,000

8,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intrinsic value of stock exercised

4,800,000

5,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation cost of outstanding options

531,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average remaining contractual term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year 2 months 12 days

'

'7 months 17 days

'

'

'

'

'

'

'

'

'

'

'

'

ESPP, shares purchased

84,081

92,476

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

6,700,000

3,100,000

5,200,000

1,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Performance period

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of maximum aggregate award granted

200.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of stock outperform in order for target award to be earned

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock Units, Awarded

'

'

'

'

'

'

'

'

'

'

'

'

'

'

487,156

131,996

'

457,156

68,946

250,000

42,238

159,918

63,050

'

30,000

'

'

'

'

Stock Units, Forfeited

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16,294

47,664

'

16,294

12,664

'

'

'

'

35,000

'

'

'

'

'

Stock Units, Vested

'

'

'

'

'

'

'

'

'

'

'

'

'

'

276,064

19,863

'

'

19,863

'

'

'

'

'

'

'

'

'

'

Market value of Vested shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,200,000

'

'

'

161,000

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation cost related to unvested RSUs and PSUs

$3,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reconciliation_of_Income_Amoun

Reconciliation of Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2014		Jan. 31, 2013		Jan. 31, 2014		Jan. 31, 2013
Net income/(loss)	'		'		'		'
Income from continuing operations	$20,057		$17,506		$63,728		$52,776
Income/(loss) from discontinued operations, net of tax	728		-2,930		521		771
Net income/(loss)	$20,785		$14,576		$64,249		$53,547
Weighted average shares outstanding - Basic	55,583		65,149		59,815		65,457
Dilutive effect of stock option and award plans	1,441		1,272		2,250		1,452
Diluted shares outstanding	57,024		66,421		62,065		66,909
Earnings per share - Basic	'		'		'		'
Income from continuing operations	$0.36	[1]	$0.27	[1]	$1.07	[1]	$0.81	[1]
Income/(loss) from discontinued operations	$0.01	[1]	($0.04)	[1]	$0.01	[1]	$0.01	[1]
Net income/(loss)	$0.37	[1]	$0.22	[1]	$1.07	[1]	$0.82	[1]
Earnings per share - Diluted	'		'		'		'
Income from continuing operations	$0.35	[1]	$0.26	[1]	$1.03	[1]	$0.79	[1]
Income/(loss) from discontinued operations	$0.01	[1]	($0.04)	[1]	$0.01	[1]	$0.01	[1]
Net income/(loss)	$0.36	[1]	$0.22	[1]	$1.04	[1]	$0.80	[1]
[1]	Net income per share may not equal earnings per share from continuing plus discontinued operations due to rounding.

Share_Based_Compensation_Stock

Share Based Compensation Stock Options Activity (Detail) (USD $)	9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Number of shares and weighted average exercise prices	'	'
Options outstanding, beginning of year, Shares	3,019,127	3,988,164
Granted during period, shares	'	3,500
Exercised during period, Shares	-508,800	-837,842
Canceled/forfeited during period, Shares	-28,000	-105,496
Options outstanding, end of period, Shares	2,482,327	3,048,326
Weighted average remaining contractual life	'5 years 11 months 27 days	'6 years 4 months 21 days
Options exercisable, end of period, Shares	2,003,639	2,003,040
Weighted average remaining contractual life	'5 years 6 months 22 days	'5 years 2 months 23 days
Weighted-Average Exercise Price	'	'
Options outstanding, beginning of year, Weighted-Average Exercise Price	$5.31	$4.67
Granted during period, Weighted-Average Exercise Price	'	$11.02
Exercised during period, Weighted-Average Exercise Price	$2.76	$4.10
Canceled/forfeited during period, Weighted-Average Exercise Price	$5.59	$3.91
Options outstanding, end of period, Weighted-Average Exercise Price	$5.83	$4.86
Options exercisable, end of period, Weighted-Average Exercise Price	$5.81	$5.05

Share_Based_Payment_Award_Empl

Share Based Payment Award Employee Stock Purchase Plan Valuation Assumptions (Detail)	9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Stock Options	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected volatility	'	70.00%
Dividend yield	'	0.00%
Risk-free interest rate	'	0.31%
Stock Options | Minimum	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term	'	'5 years 10 months 2 days
Stock Options | Maximum	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term	'	'7 years 10 months 2 days
Employee Stock Purchase Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected volatility	35.20%	63.70%
Dividend yield	0.00%	0.00%
Risk-free interest rate	0.40%	0.14%
Expected term	'	'6 months
Employee Stock Purchase Plan | Minimum	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term	'6 months	'
Employee Stock Purchase Plan | Maximum	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term	'12 months	'

Summary_of_Activity_in_Unveste

Summary of Activity in Unvested RSUs and PSUs (Detail) (RSUs and PSUs, USD $)	9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
RSUs and PSUs	'	'
Summary of activity in unvested restricted stock units and performance share units	'	'
Restricted Stock Units, RSUs and PSUs outstanding, beginning of year	781,586	384,140
Restricted Stock Units, Awarded	487,156	131,996
Restricted Stock Units, Vested	-276,064	-19,863
Restricted Stock Units, Forfeited	-16,294	-47,664
Restricted Stock Units, RSUs and PSUs outstanding, end of period	976,384	448,609
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	'	'
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, beginning of year	$8.42	$7.91
Weighted Average Grant Date Fair Value, Awarded	$10.32	$9.45
Weighted Average Grant Date Fair Value, Vested	$8.61	$9.66
Weighted Average Grant Date Fair Value, Forfeited	$8.89	$5.84
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$9.20	$8.07

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	9 Months Ended
	Jan. 31, 2014	Apr. 30, 2013
	Claim
	Case
Schedule Of Commitments And Contingencies [Line Items]	'	'
Allegations of lawsuit	'The lawsuit is based principally on a theory of breach of fiduciary duties.	'
Number of Product liability cases	14	'
Number of Other product liability claims	5	'
Environmental reserve in non-current liabilities	$623,000	$577,000
Restricted cash	'	3,345,000
Letter of Credit	'	'
Schedule Of Commitments And Contingencies [Line Items]	'	'
Outstanding Letters of Credit	1,100,000	'
Restricted cash	0	'
Minimum	'	'
Schedule Of Commitments And Contingencies [Line Items]	'	'
Compensatory damages sought	75,000	'
Maximum	'	'
Schedule Of Commitments And Contingencies [Line Items]	'	'
Compensatory damages sought	$1,400,000	'

Fair_Value_of_Assets_Measured_

Fair Value of Assets Measured on Recurring Basis (Detail) (Fair value, recurring basis, USD $)	Jan. 31, 2014		Apr. 30, 2013
In Thousands, unless otherwise specified
Assets:	'		'
Cash equivalents	$45,273	[1]	$100,413	[1]
Total assets	45,273		100,413
(Level 1)	'		'
Assets:	'		'
Cash equivalents	45,273	[1]	100,413	[1]
Total assets	$45,273		$100,413
[1]	Cash and cash equivalents include interest bearing cash and money market accounts.